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Key Decision in Creative Loafing Bankruptcy Case Will Come Aug. 25

By AAN Staff

july 29, 2009 04:51 pm

In today's bankruptcy hearing, the judge said she will wait until the Aug. 25 equity auction to define what the "highest and best" offer will be, a decision that CL CEO Ben Eason hassaid will be of utmost importance to the future of the six-paper company. "While today's hearing about the rules and procedures for the bidding was given a pretty high-drama buildup ... it didn't live up to its billing and was actually a complex, confusing, and undramatic court session," Creative Loafing (Tampa)'s Wayne Garcia writes. Following the hearing, Eason told Garcia he's considering stepping down temporarily as CEO to focus on putting together a new bid for the company, though he said he hasn't made a decision yet and has no timetable in mind.